Civmec Limited · SGX:P9D
Civmec — H1 2024 Earnings Presentation
14 slides from Civmec's earnings presentation, Feb 15, 2024
Slide 1: Investor Presentation 1H FY24
Investor Presentation 1H FY24 ASX:CVL SGX:P9D For personal use only
Slide 2: Who we are
Who we are Civmec is an Australian, multidisciplinary heavy engineering and construction company, providing high-quality, integrated services to the energy, resources, infrastructure, marine and defence sectors. MANUFACTURING • Heavy engineering • Off site modular construction For personal use only
Slide 3: Strategic locations
Strategic locations A Henderson, WA (head office) • Largest heavy engineering facility in Australia • 200,000m2 land with extensive wharf access • Over 100,000m2 of useable undercover area • Throughput capacity of 80,000 tonnes steel/annum For personal use only NT B Newcastle, NSW D • One of the lar
Slide 4: 1H FY24 snapshot
1H FY24 snapshot REVENUE NPAT A$492.3m 17.5% increase from 1H FY23 A$31.9m 12.8% increase from 1H FY23 CASH GENERATED FROM • Solid performances across EBITDA OPERATIONS all sectors A$59.6m 12.6% For personal use only increase from 1H FY23 A$111.2m 32.2% increase from 1H FY23 • Investment made in lon
Slide 5: Strong Performance continued returns
Strong Performance DIVIDEND PER DIVIDEND SHARE PER SHARE continued returns 6.0 5.5 5.0 4.5 CENTS AUSTRALIANcents 4.0 3.5 3.0 Final Australian 2.5 Interim 2.0 A$111m CASH GENERATED FROM OPERATIONS 1.5 1.0 For personal use only 0.5 1H FY24 0.0 FY19 FY20 FY21 FY22 FY23 1HFY24 44% PAYOUT RATIO IN FY23 C
Slide 6: Proven track record
Proven Revenue Revenue NPAT NPAT track record 800 60 50 600 • Continued commitment 40 Millions Millions to sustainable growth 400 2H 30 2H 1H 1H 20 200 • Increased focus on 10 For personal use only maintenance and 0 0 capital works sectors FY19 FY20 FY21 FY22 FY23 1HFY24 FY19 FY20 FY21 FY22 FY23 1HF
Slide 7: Strong Balance Sheet
Strong Balance Sheet 1H FY24 FY23 A$’000 A$’000 • Cash of $143m reflecting A$111m of cash Current assets Cash 143,131 70,381 generated from operations for the half. Receivables and other current assets 35,367 110,517 Contract assets 129,560 100,093 • Net tangible assets per share of 86.3c at 31 Curr
Slide 8: Sector performance
Sector performance ENERGY RESOURCES INFRASTRUCTURE, MARINE & DEFENCE For personal use only • Revenue growth to A$20.4m. Gross profit growth • Revenue 1H FY24 was A$418.9m. Gross profit • Revenue 1H FY24 was A$53.1m. Gross profit of 104% compared to 1H FY23. growth of 10% compared to 1H FY23. growth
Slide 9: Key project locations
Key project locations Construction, Maintenance NT 28 and Capital Works 5 6 26 11 20 10 17 24 15 33 29 For personal use only 22 14 34 QLD 21 Key Civmec projects completed or in 23 WA delivery during 1H FY24. SA 18 Energy Resources NSW 32 31 40 35 27 16 19 30 14 12 Infrastructure, Marine and Defence
Slide 10: ESG activities
ESG activities • Continued investment into the future of our industry, with in excess of 125 apprentices, trainees, and graduates. • Overall female representation climbed to 9.84%, showcasing our dedication to improving gender equality. In white collar roles, gender For personal use only representat
Slide 11: Outlook
Outlook FY24 to FY27 combined forecast spend across our operating sectors: over A$450b • Tendering activity continues to be strong across all sectors, with the Group focused on securing projects A$B Resources A$B 35 Energy that will allow it to grow its workforce 30 30 at a sustainable pace. For per
Slide 12: Investment highlights
Investment highlights OPERATIONAL EXCELLENCE GROWTH OPPORTUNITIES FINANCIAL PERFORMANCE EXPERIENCED EXECUTIVE STRONG PROJECT CONSISTENT RETURNS TEAM PIPELINE Strong and growing dividend All with shareholding in the Positive outlook for Australian returns with improving payout For personal use only c
Slide 13: Disclaimer
Disclaimer This presentation has been prepared by the management of Civmec Limited (the Company) for the benefit of brokers, analysts and investors and not as any specific advice to any particular party or person. The information is based on publicly available information, internally developed data
Slide 14: Appendix: 1H FY24 key project list
Appendix Energy Resources 1H FY24 key project list Infrastructure, Marine and Defence Fortescue Metals CLIENT/OWNER PROJECT LOCATION 20 Maintenance and capital upgrade works Pilbara, WA Group Queensland Alumina 1 OneSubsea Julimar Development Project Phase 3 (JDP3) – fabrication Henderson, WA 21 Mec